Is Bitcoin the biggest bubble since the Dutch Tulip Mania?

I WANT TO TALK ABOUT THIS TAX THAT YOU SO DESPERATELY WANTED, BUT DO YOU LIKE WHAT YOU'RE SEEING COMING DOWN THE PIKE? >> IT'S GOING TO DO MORE GOOD THAN HARM — >> NO, IT ISN'T ON THE PASS-THROUGHS SO YOU REALLY ARE GOING TO GET A LOWER TAX THING NO MATTER WHAT YOUR INCOME ON THAT, THATS' A GOOD THING AND IF THEY FOLLOW THROUGH ON THE TAX BRACKETS, THE SENATE EVEN THOUGH THEY HAD SEVEN INSTEAD OF FOUR IN THE HOUSE, THEY WERE BETTER IN THE SENSE THAT'S STIMULATIVE THEY HAD FORGOTTEN THAT THE REAL KEY THING IS THE RATE YOU PAY ON YOUR NEXT DOLLAR OF INCOME THE SENATE DID A BETTER JOB IF THEY KEEP THOSE KIND OF RATES IN NEXT YEAR? IF WE GET THIS PLAN IN PLACE, DO WE GET 4% GROWTH NEXT YEAR? >> WE CAN GET CLOSE TO IT BECAUSE THIS YEAR WE GOT THREE-QUARTERS OF 3% GROWTH JUST BY DEREGULATION, JUST BY NOT HAMMERING THE ECONOMY, JUST LEAVING THE THING ALONE

IT STARTED TO PROSPER, STARTED TO BLOSSOM, AND SO NEXT YEAR WHEN YOU HAVE THESE LOWER RATES COMING IN — AND WHAT THE CUTS TO COME IF WE RETAIN CONGRESS, WE'RE GOING TO DO MORE IN 2019 GIVE SOMETHING OUT THERE GET PEOPLE ANTICIPATING EVEN HOLD ON, STEVE I WANT TO TALK MORE ABOUT BIG TECHNOLOGY STOCKS, ACTUALLY BECAUSE THIS NEW TAX PLAN INCLUDES — IT'S KIND OF A REPATRIATION TAX

IT'S ABOUT A 10% TAX AT A VERY LOW LEVEL OF TAXATION, REALLY FORCING BIG COMPANIES TO BRING THE MONEY BACK FROM OVERSEAS AND BRING IT BACK TO AMERICA JOINING US NOW, JOHN LAYFIELD, CEO OF THE LAYFIELD REPORT JOHN, I THINK THAT PARTICULAR PROVISION OF THE TAX PLAN, BRING THAT MONEY BACK FROM OVERSEAS, AM I ON THE RIGHT TRACK? >> I THINK YOU'RE SPOT ON IT'S GOING TO BE A HUGE HELP TO THE TAX CUTS ONE OF THE THINGS THEY'VE DONE, YOU'RE GOING TO PAY IT ANYWAY

I DON'T THINK YOU'RE GOING TO SEE A LOT OF EXTRA CAP-EX SPENDING BECAUSE THE MORGAN STANLEY SPENDING HAS THE — WHAT YOU'RE GOING TO SEE IS THESE TECH COMPANIES ARE GOING TO BECOME MUCH BETTER COMPANIES LOOK AT APPLE, FOR EXAMPLE, $252 BILLION OF THE $270 BILLION IS WITH 3% INTEREST THAN IT IS TO REPATRIATE AT 35% INTEREST YOU'RE GOING TO SEE THESE BALANCE SHEETS BECOME MUCH BETTER AND THESE GREAT GLOBAL COMPANIES GROW IN THE UNITED STATES, WHICH IS VERY IMPORTANT STUART: WHEN WE OPENED UP THE MARKET THIS MORNING, JOHN, THE DOW WAS UP ABOUT 80 POINTS, WELL ON THE WAY TO 25,000 WE'RE NOW UP ONLY, WHAT, 14 POINTS, THAT'S IT

BUT THE QUESTION IS TO YOU, JOHN, ARE WE GOING TO SEE 25,000 ON THE DOW IN THE VERY NEAR FUTURE? LIKE BEFORE CHRISTMAS? WHAT DO YOU SAY? >> I THINK IT'D BE A WONDERFUL CHRISTMAS GIFT WE'VE ALREADY HAD A GREAT RALLY THIS YEAR, BUT IT'S ONLY ONLY ABOUT 2% WHEN THIS TAX PACKAGE GOES THROUGH, HOW ARE PEOPLE — THEY'RE GOING TO HAVE TO SELL STOCKS FOR CERTAIN TAX REASONS ALSO ARE PEOPLE LOCKING IN PROFITS RIGHT NOW YOU'RE GOING TO SEE A DOWNTURN

I DON'T THINK YOU WILL I THINK THE PROJECTION — BECAUSE THIS LAST JOBS NUMBER WAS THE FIRST ONE WITHOUT A DISRUPTION FROM THE HURRICANE AND WHAT WE SAW WAS THAT THE FUNDAMENTALS OF THIS ECONOMY ARE INCREDIBLY STRONG WHICH I THINK THIS MARKET WILL BE TRADING ON STUART: OKAY, JOHN, YOU'RE STILL ON DECK WITH THIS ONE FROM BANK OF AMERICA THEY'RE LOOKING TO THE FUTURE, AND THEY'RE SAYING THE NASDAQ, LET'S TALK ABOUT THE NASDAQ, THEY SAY IT COULD HIT 8,000 BY NEXT SUMMER

THAT WOULD BE A 16% GAIN FROM WHERE IT IS NOW FIRST TO YOU, JOHN ARE WE GOING TO GET THAT KIND OF GAIN FOR THE NASDAQ? >> I HOPE WE DO IT'S ABOUT A 20% GROWTH FROM RIGHT NOW AT ABOUT 6900, SO I THINK IT'S VERY POSSIBLE ON FOX BUSINESS WITH MARIA, HE TALKED ABOUT THE THREAT OF COMPETING TELEVISION PROGRAMS

I THINK WHEN YOU START TO SEE THAT GROWTH WHICH IS NOT NECESSARILY FACTORED IN WITH STUART: ALL RIGHT, JOHN STEVE FORBES, A 16% RALLY IN THE NASDAQ BY THE SUMMER OF NEXT YEAR WHAT DO YOU THINK? [LAUGHTER] >> OH, I HOPE SO [LAUGHTER] STUART: YEAH, BUT ARE WE — WE ALL HOPE SO, ARE WE GOING TO MAKE IT? >> THE ANSWER IS, YES, WITH THE USUAL CAVEATS, THE USUAL CAVEATS; WE DON'T GET A TRADE WAR, WE DON'T HAVE NORTH KOREA AND THAT KIND OF THING BUT THE KEY THING TOO, STUART, IN TERMS OF GETTING THE 25,000 PROVISIONS THEY PUT IN THIS BILL TO MAKE SURE PEOPLE DON'T GAME THE SYSTEM WITH EARNINGS OVERSEAS

ALL THESE LITTLE THINGS IF THEY CLEAN THAT UP, AND IT LOOKS LIKE THEY ARE, YOU'RE GOING TO GET THAT 25,000 SO IT'S THOSE LITTLE DETAILS WE'VE GOT TO SEE NOW STUART: OKAY, GOT IT WE WOULD BE REMISS IF WE DIDN'T TALK ABOUT BITCOIN

I THINK THE PRICE HAS STABILIZED A LITTLE BIT WE'RE AT 16,000 NOW FED CHAIR JANET YELLEN, SHE'S NOT REALLY BUYING INTO ALL THE HYPE ABOUT BITCOIN SHE WARNED YESTERDAY THAT IT'S A SAID SOMETHING THAT'S FRUITFUL AND USEFUL THE THING ABOUT CRYPTO CURRENCY, IT'S GOT TO HAVE A STABLE VALUE

BITCOIN IS USELESS IN TERMS OF USING IT FOR MONEY BECAUSE ONE WEEK YOU HAVE STEAK, THE NEXT WEEK DOG FOOD THAT'S NOT MONEY STUART: ACTUALLY, THAT'S WHAT JANET YELLEN SAID YESTERDAY, IT'S NOT A MEDIUM OF EXCHANGE >> YEAH, JUST BECAUSE IT SAYS COIN DOESN'T MEAN IT'S CURRENCY STUART: THAT'S RIGHT

>> I THINK MR FORBES IS RIGHT HE'S ALSO RIGHT ABOUT THE TAX CUT I THINK BITCOIN IS THE BIGGEST FUTURE, I'M NOT SURE BITCOIN IS, BUT I'M VERY POSITIVE THAT THIS IS A BUBBLE >> GUESS WHO'S TALKING ABOUT DOING A CRYPTO-CURRENCY? STUART: WHO? >> THE FEDERAL RESERVE

THE FED COULD STEP IN AND HAVE A CURRENCY FOR THE UNBANKED STUART: MY HEAD IS SPINNING YOU MANAGED TO GET FED AND BITCOIN IN THE SAME SENTENCE, NO BUZZER WELL DONE [LAUGHTER] BIG BUSINESS STORY, DISNEY IS BUYING SOME OF THE ASSETS OF 21ST CENTURY FOX, AND THEY'RE GOING TO PAY $52

4 BILLION NOW TOGETHER, DISNEY IS GOING TO GET FOX'S TV AND FILM STUDIOS, COMBINE WITH ESPN, WHICH IS VERY STRONG THAT WILL BE A REGIONAL SPORTS POWERHOUSE DON'T KNOW THEY ALSO GET 30% INTEREST IN ALSO SKY IN THE U

K, DISNEY WILL EITHER GET PART OR ALL OF IT DEPENDING WHETHER FOX CAN MOVE THROUGH WITH GETTING ALL OF SKY ALSO GETS TV SATELLITE BUSINESS OUT OF ASIA, STAR INDIA ALL OF THIS PUT TOGETHER IS ALL ABOUT GETTING ALL THE CONTENT AND THE DISTRIBUTION TO GET THAT CONTENT OUT DISNEY HAS BEEN HURTING WITH THE CORD CUTTING THAT'S BEEN GOING ON

THEY'RE GOING TO LAUNCH THIS BIG STREAMING SERVICE PLATFORM AT THE END OF NEXT YEAR, THEY'RE GOING TO START WITH ESPN SERVICE, THEN AT THE END OF NEXT YEAR, THEY'RE GOING TO HAVE ALL OF THIS CONTENT TO PUT ON THERE, BRINGING BACK THEIR CONTENT FROM OTHER PLATFORMS AND DOING IT THEMSELVES STUART: JOHN, IS DISNEY GOING TO BE A BIG PLAYER IN STREAMING THE WAY THEY WOULD LIKE TO BE? >> I'M NOT SURE AS FAR AS THEIR OWN INDIVIDUAL STREAMING YOU ALREADY HAVE NETFLIX, AND HULU DOES A WONDERFUL JOB OUT THE DEAL IS A GREAT VERTICAL INTEGRATION YOU HAVE TO BE VERTICALLY STUART: WHAT DO YOU SAY, STEVE FORBES? >> I THINK THIS IS RUPERT MURDOCH'S LIBERATION IN EFFECT, HE'S TELLING THE EUROPEANS I'M NOT HOLDING BACK, I'M GOING AHEAD WITH THE STUFF I LIKE

THIS IS GOOD NEWS FOR FOX BUSINESS AND FOX NEWS >> IT'S ABOUT DEFEATING NETFLIX AND AMAZON >> THAT'S EXACTLY RIGHT >> COULD DISNEY BUY NETFLIX DOWN THE ROAD, RIGHT? STUART: YEAH, I GUESS WHO'S MICROSOFT GOING TO BUY? THEY DON'T HAVE — >> AND THE APPLES OF THE WORLD HAVE ALL THIS CASH THEY CAN NETFLIX IS GOING TO SPEND $8 BILLION NEXT YEAR JUST ON CONTENT

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